Analysts greeted Micron Technology Inc.’s sweetened $790 million offer for Lexar Media Inc. Friday as the appropriate move to win approval from the target’s displeased shareholders.
Boise, Idaho-based Micron said it is willing to exchange 0.5925 of a Micron share, worth about $9.68 late Friday, for one Lexar share. Micron had offered 0.5625, or $9.48 a share, which originally valued the deal at about $770 million. Lexar’s shares closed at $9.93 on Thursday.
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